Streetbeat News

SPY

SPDR S&P 500 ETF Trust

http://www.spdrs.com

Industry

Asset Management

The Trust seeks to achieve its investment objective by holding a portfolio of the common stocks that are included in the index (the “Portfolio”), with the weight of each stock in the Portfolio substantially corresponding to the weight of such stock in the index.

Open

589.72

Mkt cap

538B

Volume

74M

High

590.20

P/E Ratio

29.51

52-wk high

600.17

Low

583.86

Div yield

0.01

52-wk low

449.29

Market Clubhouse Morning Memo discusses trade strategies for SPY, AAPL, TSLA, NVDA, MSFT, GOOGL, and AI. The memo highlights key price levels, potential breakouts or reversals, and the impact of Apple's Worldwide Developers Conference on the market.

Portfolio Pulse from RIPS

June 05, 2023 | 1:46 pm

Palo Alto Networks (PANW) shares climbed nearly 5% after it was announced that the cybersecurity firm will join the S&P 500, replacing DISH Network Corp (DISH). The reshuffling will take effect on June 20. Other companies affected by the reshuffle include Doximity (DOCS), Berry Global Group (BERY), and Planet Fitness (PLNT), among others.

Portfolio Pulse from AJ Fabino

June 05, 2023 | 1:28 pm

European Central Bank President Christine Lagarde stated that price pressures remain strong and underlying inflationary pressures are still high, with no clear evidence that they have peaked.

Portfolio Pulse from Benzinga Newsdesk

June 05, 2023 | 1:06 pm

Saudi Energy Minister expressed frustration with OPEC members not meeting oil output goals and seeks more transparency from Russia regarding oil output.

Portfolio Pulse from Benzinga Newsdesk

June 05, 2023 | 12:52 pm

Stocks are expected to pause after last week's strong rally, with concerns about a potential recession and the upcoming June Federal Open Market Committee meeting. Analyst Quincy Crosby warns of significant headwinds due to the Treasury's upcoming auction of $1 trillion worth of notes, which could sap liquidity from financial markets. In premarket trading, SPY and QQQ ETFs eased, while stocks like PANW, DISH, and AAPL saw movement.

Portfolio Pulse from Shanthi Rexaline

June 05, 2023 | 10:52 am

IMF Managing Director Kristalina Georgieva believes the Federal Reserve may need to implement more rate hikes due to the absence of a significant slowdown in lending and a resilient U.S. jobs report. Wall Street is currently focused on the debt ceiling crisis, with the SPDR S&P 500 ETF Trust (SPY) and Invesco QQQ Trust Series 1 (QQQ) recording gains on Friday.

Portfolio Pulse from Bhavik Nair

June 05, 2023 | 7:31 am

Morgan Stanley predicts a 16% drop in S&P 500 earnings per share this year, potentially slowing the ongoing rally. The investment bank is bullish on equities in Japan, Taiwan, and South Korea, and recommends an overweight position in developed-market government bonds, including long-dated Treasuries and the dollar.

Portfolio Pulse from Bhavik Nair

June 05, 2023 | 6:45 am

President Biden has signed a bill raising the US debt limit, averting a potential default and allowing the government to continue borrowing. This move is expected to have a positive impact on the stock market.

Portfolio Pulse from Benzinga Newsdesk

June 03, 2023 | 5:53 pm

Bank of America's chief investment strategist, Michael Hartnett, suggests a contrarian trade involving long positions in Chinese equities and short positions in AI stocks. He notes the extraordinary inflows into tech-related funds and believes tech equities have heavily discounted a Fed pause in June, leaving potential China stimulus as a bullish June surprise.

Portfolio Pulse from Piero Cingari

June 02, 2023 | 8:09 pm

A market on close imbalance of $2.2 billion to the sell-side has been reported, potentially affecting the stock market and ETFs like SPY.

Portfolio Pulse from Happy Mohamed

June 02, 2023 | 7:51 pm

All corporate logos and prices are for illustrative purposes only and are not a recommendation, an offer to sell, or a solicitation of an offer to buy any security.